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TMI BlogSources of Variation in Foreign Exchange Reserves in India during 2013-14X X X X Extracts X X X X X X X X Extracts X X X X ..... Sources of Variation in Foreign Exchange Reserves in India during 2013-14 X X X X Extracts X X X X X X X X Extracts X X X X ..... ariation in Foreign Exchange Reserves: 2013-14 During 2013-14, there was an increase in the foreign exchange reserves. The sources of variation in the foreign exchange reserves are set out in Table 1. Table 1: Sources of Variation to Foreign Exchange Reserves* (US$ billion) Items 2012-13 2013-14 I. Current Account Balance -88.2 -32.4 II. Capital Account (net) (a to f) 92.0 47.9 a. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Foreign Investment 46.7 26.4 of which: Foreign Direct Investment 19.8 21.6 Portfolio Investment 26.9 4.8 FII 27.6 5.0 ADR/GDR 0.2 0.02 b. Banking Capital 16.6 25.4 Of which: NRI Deposits 14.8 38.9 c. Short term credit 21.7 -5.0 d. External Assistance 1.0 1.0 e. External Commercial Borrowings 8.5 11.8 f. Other items in capital account -2.5 -11.7 III. Valuation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... change -6.2 -3.3 Total (I+II+III) @ Increase in reserves (+) / Decrease in reserves (-) -2.4 12.2 *: Based on old format of BoP @: Difference, if any, is due to rounding off. Note: 'Other items in capital account' includes apart from 'Errors and Omissions' SDR transactions, leads and lags in exports, funds held abroad, advances received pending issue of shares under FDI and transactio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ns of capital receipts not included elsewhere. On balance of payments basis (i.e., excluding valuation effects), the foreign exchange reserves increased by US$ 15.5 billion during 2013-14 as compared to an increase of US$ 3.8 billion during 2012-13. The foreign exchange reserves in nominal terms (including the valuation effects) increased by US$ 12.2 billion during 2013-14 as against a decline of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... US$ 2.4 billion during the same period of preceding year (Table 2). Table 2: Comparative Position of Variation in Reserves (US$ billion) Items 2012-13 2013-14 1 Change in Foreign Exchange Reserves (Including Valuation Effects) -2.4 12.2 2 Valuation Effects (Gain (+)/Loss (-)) -6.2 -3.3 3 Change in Foreign Exchange Reserves on BoP basis (i.e., Excluding Valuation Effects) 3.8 ..... X X X X Extracts X X X X X X X X Extracts X X X X .....
15.5
Note: Increase in reserves (+)/Decrease in reserves (-).
Difference, if any, is due to rounding off.
The valuation loss, reflecting the cross currency movements and the decline in gold prices, amounted to US$ 3.3 billion during 2013-14 as compared to a valuation loss of US$ 6.2 billion in the previous year.
Alpana Killawala
Principal Chief General Manager X X X X Extracts X X X X X X X X Extracts X X X X ..... B ..... X X X X Extracts X X X X X X X X Extracts X X X X
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